Singapore's March non-oil domestic exports up 16.5% y-o-y

SINGAPORE'S non-oil domestic exports (NODX) grew for a fifth straight month in March, posting a 16.5 per cent year-on-year jump.

This came after a growth of 21.1 per cent in February, 8.6 per cent in January, 9.1 per cent in December and 15.6 per cent in November, according to trade promotion agency International Enterprise Singapore.

But month on month the NODX slipped by a seasonally-adjusted 1.1 per cent last month following a 1.1 per cent increase in February.

Shipments to all top 10 major markets were up in March, with China (up 45.5 per cent), Taiwan (up 32.5 per cent) and Hong Kong (up 17.4 per cent) being the three biggest contributors to year-on-year NODX growth.

Electronic NODX increased 5.2 per cent year-on-year last month, easing from a 17.2 per cent jump in the previous month. Non-electronic N0DX rose 20.8 per cent after a 22.7 per cent spike in February.

Non-oil re-exports increased 9.4 per cent in March, following a 9.4 per cent rise in February.

Total trade rose 18.9 per cent last month, extending the 14.3 per cent increase in February.